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FINWIRES

Gemdale's Contracted Sales Drop 36% in May

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Gemdale's (SHA:600383) contracted sales value in May dropped 36% year on year to 2 billion yuan, according to a Shanghai bourse disclosure on Saturday.

The property developer's shares during Monday's midday trade fell 2%.

The company's contracted sales area dipped 46% to 129,000 square meters from a year earlier.

Meanwhile, the company acquired a new project on Dazhai South Road, Yanta District, Xi'an, China, for 228.9 million yuan. The project has a site area measuring 23,677.33 square meters and a gross floor area of 101,812.16 square meters.

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